NTT Data announced plans to acquire a 60% stake in Panasonic Mobile Communications, the handset software unit of Matsushita Electric. Financial terms of the deal were not disclosed.
In a statement, NTT Data, said, “Through this alliance, Panasonic Mobile and NTT Data intend to form a new partnership and establish cooperative structure to enhance the corporate values of all three companies involved, including PMSE.”
NTT Data said that embedded software is the “growth engine” in its medium-term management plan, and it hopes to expand Panasonic Mobile’s business to “a broader customer base with its considerable experience and expertise in the field of embedded software.” Panasonic Mobile said it hopes the capital alliance will improve on the software unit's product quality and cost competitiveness in the field of mobile phone software.
With the current economic climate, wireless operators face shrinking marketing budgets and reduced consumer spending.
Globally, the credit crunch is very much alive, and operators will be tightening their belts into the foreseeable future by putting off capital purchases.
